Yet as ETF's such as DXO come to an end, their unwinding could offer profitable opportunities for astute traders.

FT: The WTI positions held by the DXO are in July 2010, therefore t hey will have to sell about 11'000 July WTI contracts (a third of the July2010 Open Interest). While this will have a flat price impact next Wednesday we think it is too early to already pre-emptily sell in front of it. We would rather buy the WTI spreads to July 2010 as we would imagine that Deutsche will buy the spreads to bring the flat price length closer to the front to find enough liquidity for the liquidation of the Fund.

One would imagine that many winding-down ETF's might present similar opportunities.